Is this the end of the sub-£5 bottle of wine? Quite probably. George Osborne’s latest budget raid on our shrinking wallets, raising duty on wine by 11p a bottle and sparkling wine by 13p, will give us very little to toast the Queen’s Jubilee or the Olympics with that costs a fiver or less. The UK has some of the highest taxes on wine and spirits in Europe, and the Chancellor already rakes in £9.5 to £10.5 billion annually, depending on whose statistics you believe. And that’s excluding the VAT levied on top of duty. Factor in the duty escalator, which is set at 2 per cent above inflation until at least 2014-15, and it’s clear that the Chancellor’s coffers will continue to bulge — care…